Abstract. The 44-day armed confrontation around Nagorno-Karabakh in September–November 2020 between Armenia and Azerbaijan was called the Second Karabakh War. A new full-fledged confrontation has radically changed the geopolitical situation around the region and, for the first time since the beginning of the conflict in the 90s of the last century, created prerequisites for the normalization of relations between the warring parties. The trilateral truce statement signed on November 10, 2020 by the heads of Russia, Azerbaijan and Armenia lays down the conditions for opening the borders blocked due to the confrontation, launching transport links in the region and gradually restoring relations between neighbors. At the same time, the contradictions accumulated during the conflict, distrust and negative mutual perception of Armenians and Azerbaijanis are still a serious obstacle to the full-fledged normalization of relations in the South Caucasus.